New York State Teachers Retirement System Trims Position in CBRE Group, Inc. (NYSE:CBRE)

New York State Teachers Retirement System decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 2.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 331,659 shares of the financial services provider’s stock after selling 8,608 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of CBRE Group worth $41,285,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in CBRE Group by 20.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,224 shares of the financial services provider’s stock worth $1,480,000 after purchasing an additional 2,615 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of CBRE Group by 39.0% during the first quarter. First Trust Direct Indexing L.P. now owns 8,273 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 2,323 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in CBRE Group by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 10,700 shares of the financial services provider’s stock valued at $1,041,000 after acquiring an additional 242 shares in the last quarter. HB Wealth Management LLC increased its holdings in CBRE Group by 5.3% in the 1st quarter. HB Wealth Management LLC now owns 3,775 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 191 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in CBRE Group by 1.6% in the 1st quarter. Van ECK Associates Corp now owns 19,026 shares of the financial services provider’s stock worth $1,850,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.

Insider Activity

In related news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the sale, the director now owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,232 shares of company stock valued at $2,839,047. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday. Raymond James raised their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI upped their price objective on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, UBS Group reduced their price target on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CBRE Group currently has an average rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Stock Up 0.8 %

NYSE CBRE opened at $132.02 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group, Inc. has a 52 week low of $67.81 and a 52 week high of $136.06. The firm has a market capitalization of $40.40 billion, a price-to-earnings ratio of 42.45 and a beta of 1.40. The company has a fifty day moving average of $121.02 and a two-hundred day moving average of $103.15.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts predict that CBRE Group, Inc. will post 4.81 earnings per share for the current year.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.